From a real estate site, yesterday. This would make it appear that the Friends of the Israeli Defense Forces owns NY real estate and since it is a 501(c)3, does that mean all its profits are tax-exempt?
Despite the sharp contrast between the steady rise in investment sales prices for New York City's trophy buildings over the past year and a sputtering national economy, a group of local real estate professionals said the Manhattan market was still moving up. Adam Spies, a sales broker and senior managing director at Eastdil Secured, moderated a four-person panel last night on the rooftop of the Olivia residential rental building... sponsored by the real estate division of the Friends of the Israel Defense Forces...
Since 25 % of our largest corporations don’t pay taxes, maybe Friends is just doing the same.
As an aside, I wonder if when our politicians call for lower corporate income taxes, what they are requesting is direct subsidies from taxpayers for those that don’t pay anything.